Amazon’s proposed 3 million-square-foot campus in South Lake Union is generating increased activity from investors and developers. Joshua Green Corp. paid $54.9 million for the Plaza 600 Building, a 209,256-square-foot, 20-story office tower near the future site of the Amazon campus, the Puget Sound Business Journal reported.

Amazon’s plans appear likely to nudge rents and property values upward in multiple property types as the campus takes shape. The Business Journal also reported that multi-family developers are proposing as many as 1,700 residential units near the campus.